Schwab to Acquire Compliance Software Provider

The Charles Schwab Corporation has entered into an agreement to acquire Compliance11, Inc., a provider of cloud-based, regulatory compliance software.

Compliance11, Inc. is a provider of cloud-based compliance automation software for public companies, brokerage firms, investment advisers, hedge funds, private equity firms, and pension funds. Its customizable platform provides companies with a series of compliance tools to assist in managing their disclosure, tracking, surveillance, and reporting needs, as well as more efficiently managing employee compliance with investment and trading activity regulations.

The company is based in Chicago and was founded in 2005. The acquisition is expected to close in the fourth quarter of 2011, subject to customary closing conditions. Financial terms of the transaction are not being disclosed.

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Lincoln Names Head of Institutional Retirement Solutions Distribution

Lincoln Financial Distributors (LFD), the wholesale distribution subsidiary of Lincoln Financial Group, announced that John Morabito has joined the company.

As Head of Institutional Retirement Solutions Distribution, Morabito will be responsible for leading efforts to grow Lincoln’s full service Retirement Plan Services offerings for corporate and nonprofit/tax exempt plan sponsors.  

Prior to joining Lincoln, Morabito was Senior Vice President, U.S. Full Service Distribution for Prudential Financial.

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